Volvo FY earnings grow despite modest dip in Q4 sales
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Volvo AB
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16:30 13/02/25
Swedish automotive giant Volvo said on Wednesday that earnings had slightly improved in FY24 despite a modest downturn in Q4.
Volvo said Q4 earnings declined from SEK 5.93 per share to SEK 5.28 per share on the back of lower deliveries in Europe, North America and Asia. Net sales decreased by 6% to SEK 138.4bn.
For the year as a whole, net sales fell to SEK 526.9bn from SEK 552.3bn, while adjusted operating income declined from SEK 78.15bn to SEK 65.71bn. Earnings per share increased slightly to SEK 24.78, up from SEK 24.50.
Volvo also proposed an ordinary dividend of SEK 8 per share and an extra dividend of SEK 10.50 per share. It also highlighted that it had ended the year with a net cash position of SEK 85.9bn in the industrial operations, pension and lease liabilities excluded.
As of 1140 GMT, Volvo shares were up 6.26% at SEK 305.60 each.
Reporting by Iain Gilbert at Sharecast.com